Coronavirus Stimulus Bill | Cg Tax, Audit & Advisory

11 Aug

IRS Issues ERC Guidance as Congress Mulls Early Termination

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August 12, 2021

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses...

18 Jun

Coronavirus Stimulus Bill, Federal Tax

IRS FAQs for ARPA’s Sick & Family Leave Credit

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June 15, 2021

The IRS has released a series of FAQs regarding the American Rescue Plan Act’s (ARPA’s) sick and family leave credit. The ARPA extended and changed payroll tax credits for qualifying sick leave and family...

05 Jun

Coronavirus Stimulus Bill, Federal Tax

EIP Update

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June 3, 2021

The IRS and the U.S. Department of the Treasury recently announced that an additional 1.8 million Economic Impact Payments (EIPs) have been disbursed under the American Rescue Plan Act (ARPA). So far under the...

28 May

Coronavirus Stimulus Bill, Individual Tax, Tax

Many Parents Will Receive Advance Tax Credit Payments Beginning July 15

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May 26, 2021

Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will...

25 May

Coronavirus Stimulus Bill, Federal Tax

IRS Guidance on ARPA COBRA Provision

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May 24, 2021

The IRS has issued guidance on the American Rescue Plan Act provision that provides temporary premium assistance for COBRA continuation coverage and a credit to entities that maintain group health plans. The law provides...

29 Mar

Coronavirus Stimulus Bill

Make the Most of the Employee Retention Credit

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March 25, 2021

The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during the COVID-19 pandemic, has been with us for a year. But questions about it remain for many...

20 Mar

Coronavirus Stimulus Bill, Federal Tax

Third Round of EIPs

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March 18, 2021

The IRS has begun sending the third round of Economic Impact Payments (also sometimes referred to as recovery rebates) to eligible taxpayers via direct deposit or paper checks. The IRS calls these payments “EIP...

17 Mar

Coronavirus Stimulus Bill

The American Rescue Plan Act Provides Sweeping Relief Measures for Eligible Families and Businesses

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March 16, 2021

On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The $1.9 trillion law is intended to provide far-reaching relief from the economic and other repercussions of the ongoing...

11 Mar

Coronavirus Stimulus Bill

The American Rescue Plan Act has passed: What’s in it for you?

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March 11, 2021

Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year. President Biden is expected to sign the 628-page...

08 Mar

Coronavirus Stimulus Bill

American Rescue Plan Act to Provide Economic Relief From the COVID-19 Pandemic

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March 8, 2021

The Senate recently passed a $1.9 trillion American Rescue Plan Act designed to provide economic relief to Americans and businesses impacted by the COVID-19 pandemic. Here are the major highlights: Direct $1,400 stimulus payments to...

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